時間：11月16日（星期三）下午14:30-16:00
地點：騰訊會議501-724-643
報告人：西南財經大學陳梓麟副教授
主講人簡介：
陳梓麟，西南財經大學金融學院副教授，主要研究領域為實證資產定價、行為金融和機器學習。論文發表或接收于《Journal of Financial Economics》，《Journal of Banking and Finance》，《Journal of Economic Dynamics and Control》等國際期刊。
報告內容簡介：
We construct a monthly presidential economic approval rating (PEAR) index from 1981 to 2019, by averaging ratings on the president's handling of the economy across various national polls. In the cross-section, stocks with high betas to changes in the PEAR index significantly underperform those with low betas by 1.00% per month in the future, on a risk-adjusted basis. The low PEAR beta premium persists up to one year, and is present in various sub-samples and even in other G7 countries. PEAR beta dynamically reveals a firm's perceived alignment to the incumbent president's economic policies and investors seem to misprice such an alignment.
（承辦：會計系、科研與學術交流中心）
